Land sales are heating up in Metro Orlando!
We all know about the area’s rise in residential activity, but commercial real estate is not being left behind. So far this year,”There has been more commercial real estate activity than has been seen for years,” reported the Orlando Business Journal. Prominent local brokers surveyed by the newspaper were mainly referring to land sales, but those escalating land sales were not only for commercial properties, but also for residential.
Land sales are heating up, starting with residential builders buying land as existing inventory decreased, but soon commercial developers followed suit. Real Capital Analytics reported that Metro Orlando posted 89 commercial property sales for a total of $1.08 billion through June 1st of this year, which compared with 110 sales for a combined $1.5 billion in the entire year before.
Another positive indicator of an increasingly healthy local economy (as if one more sign was really needed)!